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Ending austerity: give everyone a pay rise

The decade since the global financial crisis was a lost decade for British workers; their living standards have stagnated.

  • Engelbert Stockhammer
  • The Conversation

Wages have not even kept up with inflation.

This is in sharp contrast to numerous decades before 2008.

For example, from 1998 to 2008 wages, adjusted for inflation, grew by 25%.

For most households, wages are the most important source of income, so they can only spend more if they run into debt.

This creates a squeeze on living standards for workers and a…

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